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Dec 28 2006

Get Your Business Online and Capture those “Lost” Profits

Published by Jennifer at 5:28 pm under E-Commerce, Online Business

Advertising your business can be a difficult task. Business owners have to consider the medium, their budget, and their audience. There are many advertising mediums, including television, newspapers, and the Internet. But, somehow small business owners have looked over the Internet as a major medium. Business owners that don’t advertise online, or don’t have web sites are missing another market. By ignoring use of the Internet, business owners are missing thousands of dollars in revenue. Having your business listed locally online, gives customers the option to purchase online, and having a website can expand your business, and help you capture lost profits.

These days many people search for local businesses on the Internet. Promoting your local business on the Internet will help expand your reach in your local area, and will give your business name strength in that region. Using the Internet to find local businesses has now become mainstream, and will only continue to grow as today’s children and teens, who have been online almost all of their lives, become adults.

There are thousands of online yellow pages that give business owners the opportunity to list their local businesses. An online “yellow page,” such as Yahoo Yellow Pages allows business to list their name, address, phone number, and web site. Today, business owners believe in doing business the way it’s always been done, with local advertising, foot traffic, telephone book listing or advertisement, special promotions, and word-of-mouth marketing, and assume that local residents will find out about their business in these same ways. This works of course, but there’s a missing link, and it’s the Internet. Businesses will get more business using this one source, than using all of the others combined.

There’s nothing wrong with traditional promotional methods, but it does create a tunnel vision view of marketing in this day and age. Many business owners make the mistake of thinking, if their business is listed on the Internet, then they’re trying to reach a national or international audience. If your business is only available in your region, then most likely only people searching in that region will find you. Finding a local business using the search engine is simple, the consumer types in the service, and the zip code, and only their local businesses should show up in the results. Today, people are more likely to look for a local service on the Internet, than by picking up the phone book. Businesses not listed on the Internet will lose customers to those that are listed.

Business owners should realize that shopping online has become convenient for many consumers. If it is possible for your business to allow consumers to shop online, then it wouldn’t be a bad thing to consider. You would lose traffic to your brick-and-mortar retail store, but you will gain profits, because consumers looking for the online shopping convenience will be more likely to use your services. E-commerce is the perfect way for businesses to regain those lost profits. According to the Pennsylvania Institute of CPAs, used correctly, electronic commerce can give your business a marketing boost. E-commerce allows you to provide services more quickly and more cost-effectively on a much larger scale. Also, e-commerce allows a huge population instant access to your company, while providing you with an opportunity to save on costs. For example, because e-commerce lets you electronically link marketing, distribution, and customer services, you may be able to drastically reduce expenses.

Allowing customers to shop online also allows you to learn more about the people who are spending money at your Web site. You can use tracking systems to quickly pull together invaluable information about your customers, and all information not only enables you to service your customers better, and allows you to target individuals fitting a similar profile who are potential clients. The net result is an opportunity for you to grow your business, and extend your revenue. Not only will businesses gain more profit from local shoppers, but they’ll also have the chance to reach national shoppers.

Business owners that don’t have a web site are space ages behind. Listing your business in the yellow pages is not good enough. Potential customers will be more likely to use your services over others that may not have a website. Effective use of your website and newsletter can easily position you as a specialist in your field. Having a web site can give customers more information, and more trust in your business. Using newsletters can also help expand your business reach.

By sending clients useful and knowledgeable information about your products or services on a regular basis you not only position yourself as a supplier of choice but also as a trusted adviser.

 

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